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GST Among The Highlights Of Talent Development Summit 2014

[ 03-03-2014 ]

KUALA LUMPUR, Feb 28 (Bernama) -- The goods and services tax (GST) will be one of the highlights of the Talent Development Summit 2014 to be held on March 31, said organiser T Circle Sdn Bhd.

Its Founder and Chief Executive Officer Khor Soon Kheng said this topic is very important as businesses need to get ready when the government implements the new tax on April 2015.

"Every staff in a company needs to understand how the GST works. They are wrong if they think that the GST is a finance and administration department's problem.

"For example, if you are a buyer or doing some procurement, you need to know how the tax invoice is being calculated by the supplier, and the same applies for those who are doing the project's tendering," he told a media briefing on the summit here.

The summit, themed "Linking Technology and Talent", aims to help raise the efficiency and productivity of the nation's human capital industry via technology in its journey to become a high-income nation by 2020.

Khor said to be a high-income nation, Malaysia needs to sustain, develop, attract and retain its talents.

"Currently, Malaysia is on the losing end as its local talents prefer to trade their expertise abroad. Therefore, we would like to share how technology and innovation can be utilised to reverse this situation and get Malaysians abroad to share their knowledge via technology from wherever in the world they are," he added.

T Circle is the first Asean company to introduce the concept of linking technology with talent that is expected to make a positive impact on the region's human capital development.

Meanwhile, Pembangunan Sumber Manusia Bhd Chief Executive Officer Ali Badaruddin Abu Kadir said the concept is hoped to raise the number of skilled workers to 1.3 million or 50 per cent of the total registered workforce of 2.5 million by 2020.

"Currently, only 28 per cent of the workers here are skilled compared to 56 per cent in Singapore and 90 per cent in Germany," he said.

-- BERNAMA